Can Bitcoin make Banks disappear? - page 16.

dhka

full member

Activity: 266

Merit: 101

The Experience Layer of the Decentralized Internet

Quote from: imoet on January 11, 2018, 07:29:54 PM

I think it is really impossible to be happen. Bank is always needed by all people all over the world. Bank already control so many aspect in life. Because real money always be need too. The real money have strong connection with bank. So, I doubt if bitcoin can make bank dissapear.

From you current perspective with current condition
You dont know what crypto would bring to us in the next few years. There is nothing impossi le in crypto Grin

Looking at 2017 progress, at this rate I believe something big will be coming, I am thinking of crypto mass adoptio finally starts this year, fingers crossed

TheBestEver

newbie

Activity: 31

Merit: 0

We gonna have crypto banks instead of current ones. They can get transfered if they are smart enough. and they will because they are.

stevano

sr. member

Activity: 423

Merit: 251

Quote from: kevin go on January 11, 2016, 09:48:55 PM

im sure it can...but it will take a long time to make bank dissapear...
but make sure that all people know what is btc...in my country just a less people know bitcoin...

the same thing happens in my country too, bitcoin prices are high but the users are still few because still not many know about bitcoin, in because there is still prohibition against payment using bitcoin

SWONG

jr. member

Activity: 60

Merit: 1

If leave the legal money how to decide the value of bitcoin? Do you think any country party leader allowed bitcoin control the country’s economic? So I don’t think bank will disappear, and Blockchain not just used on coin, this just part of use it can not replace the legal money!

Maryqueen Finez

member

Activity: 308

Merit: 11

Quote from: Skroojee on January 11, 2018, 07:12:43 PM

Banks will always be needed. Since we need institutions in which people can come and put their money or other valuables and be sure of their safety.

I agree with you today, but if Bitcoin will have a great improvement in the future in terms of Security, Loans and ETC. I think or maybe Bitcoin make banks disappear but it does not immediately happen because I think there are also many improvements in their service that banks going to do for them to do not lose in the industry.

Senja Kemuning

sr. member

Activity: 553

Merit: 250

I think this will never happen, the banks will survive in such difficult conditions, if the banks survive despite World War 1 and World War 2 then that is surviving even though bitcoin users reach 99% of the total world population.

Nivir

hero member

Activity: 868

Merit: 506

Quote from: gracedungso on January 11, 2018, 07:36:44 PM

No..bank will never disappear and replace by bitcoin..there were bank that can offer like loans where bitcoin is just a safekeeper..

Maybe crypto banks will replace the old ones and will start a new financial system. But I don't know how it happens as governments will also try to grip.

gracedungso

newbie

Activity: 36

Merit: 0

No..bank will never disappear and replace by bitcoin..there were bank that can offer like loans where bitcoin is just a safekeeper..

imoet

member

Activity: 322

Merit: 10

homt.net

I think it is really impossible to be happen. Bank is always needed by all people all over the world. Bank already control so many aspect in life. Because real money always be need too. The real money have strong connection with bank. So, I doubt if bitcoin can make bank dissapear.

ryan2018

newbie

Activity: 378

Merit: 0

In my opinion the possibility of future banks will disappear, we see the function of the bank itself as an institution that saves money, the money we use now has many shortcomings than bitcoin that does not need transaction costs, so I think cryptocurrency is the inevitable future Wink

ross09

full member

Activity: 202

Merit: 102

Quote from: kevin go on January 11, 2016, 09:48:55 PM

im sure it can...but it will take a long time to make bank dissapear...
but make sure that all people know what is btc...in my country just a less people know bitcoin...

I do not think bitcoin being known worldwide can make banks disappear unless bitcoin will going to have a much stronger security when it comes to saving coins in wallet. or maybe someday and we all wish that bitcoin is going to be more useful when buying some important stuff and some basic needs in our daily lives .. we may never know what future may give us but let us all just hope for the best both bitcoin and banks too..because this two (2) have giving us all benefits in saving and investing for our future..

Skroojee

member

Activity: 434

Merit: 10

Banks will always be needed. Since we need institutions in which people can come and put their money or other valuables and be sure of their safety.

Kezio

member

Activity: 108

Merit: 10

Truth be told, they might not disappear in a traditional sense, but in the way they functional. They might change their procedures to be able to integrate cryptocurrencies.

sann111

jr. member

Activity: 196

Merit: 1

I doubt it since Ripple also supports banking system.

George P.

newbie

Activity: 35

Merit: 0

I highly doubt it!! The financial system is a multi trillion dollar dynasty!! You can not just make it disappear!!

Anti-Cen

member

Activity: 210

Merit: 26

High fees = low BTC price

Quote from: holegordon on January 11, 2018, 10:39:50 AM

Even though Bitcoin is very popular today, there is no chance that it would eradicate banks completely because local money is done with the banks rather than online money transactions.

Ripple may bridge the gap and I know 100bn coins instead of 21m is crazy right, plain stupid and I would agree
but my calculator seems to be arguing with me so maybe it's broken

100bn divide by 21m = 4,762
not sure if my maths is right here Grin

Well if I take XPR price of $1.89 today but round it up to $2.00 just to help my mental maths
easy then I am left with a number of $9,523 which is about 40% lower than the price of one Bitcoin

Not trusting my calculator I moved on to "online money transactions" and could not workout the
worlds population of 7.5bn and guess at the transactions per second need to process that many people
but I did read that Ripple says they can do 70,000 transactions per second and Bitcoin only managed
7 so that's 7,000:1

Now my attention turned towards transaction fees but my battery in my calculator went
flat and I was trying to dived BTC fees of $25 per transaction (It's cheap today Cheesy

) by $0.02
but I keep coming up with another stupid number but I didn't forget the initial cost of having to keep
$40 in my XRP wallet which was about 1.5 X BTC transaction fees.

Please someone sent money to abc1234567890def so that I can fix this bloody calculator will you now !

holegordon

newbie

Activity: 6

Merit: 0

Even though Bitcoin is very popular today, there is no chance that it would eradicate banks completely because local money is done with the banks rather than online money transactions.

cybersofts

copper member

Activity: 658

Merit: 284

Well, I believe someday bitcoin and other digital currencies would make banks disappear or even at least make them less important. In time, there would be a massive adoption of cryptocurrency by the people and that is the when banks would disappear by becoming less important to the people.

Gusbaaa

jr. member

Activity: 63

Merit: 1

I think the bank will not disappear.
They can change or can work with bitcoins.
But they will never disappear because it will never disappear as well.
If the fiat reaches a point that is not useful,
then that's the only time the bank can disappear.
But as I have said, it is impossible.

MrMonkey

newbie

Activity: 47

Merit: 0

I think no, because even if the bitcoin will grow that big and more popular there are still a lot of people who doesn't know to bitcoin and still uses banks.

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